The Hydroponics Company Ltd (ASX:THC) has appointed finance specialist Steven Xu as a director of the company.
He is also a director of Une-Innovation Consulting Australia and of MY INP Venture Capital Fund, which together hold 6.4% of the company and are substantial shareholders.
Xu is a chartered accountant and has 15 years’ experience at PricewaterhouseCoopers and other listed companies in Australia and China.
Financing, IPO and M&A specialist
He specialises in financing, IPO and mergers and acquisition (M&A) activities in a broad range of sectors.
As head of MY INP Venture Capital, Xu has experience with global investments in medicinal cannabis and related industry companies.
He also has strong international connections, especially in North America, Israel and China.
READ: The Hydroponics Company raising $3 million for medicinal cannabis
The Hydroponics Company is on track for a pilot cannabis growing program targeted for the first half of 2018, subject to government licencing.
Importantly, the build out of the company’s growing facility in Queensland is well advanced.
Import plans
The company is also on track to import the first medicinal cannabis product range from Endoca early this year.
Endoca is one of Europe’s most highly respected suppliers of certified medicinal cannabis, with annual sales exceeding €50 million.
The Hydroponics Company aims to provide access to legal medicinal cannabis for eligible medical practitioners commencing with an initial selection of Endoca CBD products